Hi Allen,
I have a Coronet No. 3 which I bought earlier in the year to replace my Elf. I've been really pleased with it so far. When I rebuilt my workshop I even mounted it properly following the instructions for the CL3 (photo's in my build thread). It's very solid and I agree with everything that Mark has said. I was going to buy a Hegner for the variable speed, but have had so many very large expenses this year, extension, workshop, car, kitchen etc., it seemed one thing too many. Changing speeds is quick, but they are limited. I will probably go for the speed genie upgrade early next year. It seems perfectly true and has not needed any adjustment to the headstock bearing, but you must remember to add a little bearing oil once in a while. Perhaps the No. 1 MT is a little small, but that hasn't been a problem for me yet. The CL3 bowl turning attachment fits and has been solid and usable. I have turned some very unbalanced 18"x6" pieces of oak with no problems with this set up. It's also quiet in operation and well made with no rough edges. I paid £450 for the 48" version with around 30 unused Sorby tools and many other extras. I think the Coronet is a better bet than a Chinese made CL3.
Andy